According to the report, The PCE index climbed 1.6%
year-over-year, while core PCE — excludes food and energy —
increased by 1.4%. This is a notable acceleration from the 1.1%
and 1.2%, respectively, we saw in March.

"Inflation? Yes indeed, there is some," said Bank of Tokyo
Mitsubishi's Chris Rupkey. "If inflation is climbing closer to
the Fed’s 2% target, then that can only mean one thing: normal
interest rates are out there on the horizon and you don’t need a
pair of binoculars to see it coming."